U.S. banks owe billions in pay, pensions to executives: WSJ
Fri Oct 31, 2008 2:36am EDT
(Reuters) - Troubled financial giants getting cash infusions from the U.S. Federal Reserve owe their executives more than $40 billion for past year's pay and pensions as of the end of 2007, the Wall Street Journal said in an analysis.
The sums owed are mostly for special executive pensions and deferred compensation, including bonuses, for prior years, said the paper.
The Journal also cited investment banks Goldman Sachs Group Inc (GS.N: Quote, Profile, Research, Stock Buzz), which owes its executives $11.8 billion; JPMorgan Chase & Co (JPM.N: Quote, Profile, Research, Stock Buzz), which has a payment of $8.5 billion pending; and Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz), which owes between $10 billion and $12 billion to executives.
Friday, October 31, 2008
A GREAT CLAWBACK OPPORTUNITY
My first reaction was that the MOTU shouldn't see a penny of this truly filthy lucre.
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